..............“UFBU is of the opinion that public sector banks should be further strengthened and expanded to play their pioneering role to meet the present day challenges to our economy” statement added. “In the entire world, the mix up of business and banking had been an unsuccessful model” UFBU said in its resolution. “We are concerned that the Reserve Bank of India and the government are trying to hurry up the process of opening up the banking sector to all types of private interests including foreign direct investors” UFBU said. India today needs strengthening of the public sector banking with further social orientation, rather than encouraging the profit oriented private sector banking according to UFBU. It also called on the government revisit the policy of banking sector liberalisation...............
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